A termination structure of a semiconductor device is provided. The semiconductor device includes an active area and a termination area adjacent to the active area, in which the termination area has the termination structure. The termination structure includes a substrate, an epitaxy layer, a dielectric layer, a conductive material layer and a conductive layer. The epitaxy layer is disposed on the substrate and has a voltage-sustaining region. The voltage-sustaining region has trenches parallel to each other. The dielectric layer is disposed in the trenches and on a portion of the epitaxy layer. The conductive material layer is disposed on the dielectric layer in the trenches. The conductive layer covers the trenches, and is in contact with the conductive material layer and a portion of the epitaxy layer, and is electrically connected between the active area and the termination area. A method for manufacturing the termination structure is also provided.